Insurance news from Australia shows growing fire damage

insurance industry news bush fire

insurance news tasmania bush fireWarnings have been issued as the flames from the wildfires continue to spread in Tasmania.

The latest insurance news from Australia is that the insurers in the country are now issuing warnings to businesses and homeowners in order to be vigilant with their coverage as the wildfires continue to rage their way throughout the island state.

The heat wave conditions continue to sizzle throughout the region, giving no respite from the fires.

Rob Whelan, the chief executive of the Insurance Council of Australia, has stated that the continuing stream of natural disasters that have been occurring in the country over the last few years is now being considered the new weather condition norm for the area. He added in his insurance news statement that people must adjust to ensure that they are prepared for upcoming threats.

He expressed in his insurance news announcement that the entire country is regularly struck with natural disasters.

According to Whelan, “This time around it’s Tasmania’s turn, in the last two years it was Queensland and Victoria and parts of NSW with the floods.” He added that “We’ve just got to get used to the fact that this is the way Australia’s weather works and we need to be more coherent about how we deal with it.”

According to this same insurance news, there has been a considerable spike in claims from business, farm, and property owners within the areas being ravaged by the wildfires in Tasmania. It is estimated that by the end of the weekend, there were 326 claims, and that the insured losses were worth an approximate $26 million.

Whelan went on to explain that the amount of claims has already started to rise as individuals begin to get themselves organized and decide that they need to contact their insurance companies. He pointed out that New South Whales is also a concern to his organization at the moment, as they are experiencing strong westerly winds that have a tendency of being very dry. Within the heat wave with temperatures exceeding 40 degrees (Celsius), there does not appear to be any relief to this insurance news in the near future.

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